Cohen is looking to hire a general partner to run his own, personal venture-capital fund, according to sources who spoke to VentureBeat confirming DealBreaker’s earlier report. DealBreaker suggested that the fund will be around $100 million in size. But it’s our understanding that the fund will invest Cohen’s own money, not SAC’s.

If that’s the case, it will be more open-ended than the traditional venture-capital fund. Cohen could end up spending nothing on startups. He could — in theory — go all-in with his entire fortune. Anyone need $6.4 billion?

Cohen is a big name in the hedge-fund business, which would make the job a draw for an up-and-coming venture capitalist.

What will Cohen’s in-house venture capitalist invest in? The only indication so far is a recent investment Cohen apparently made in Derivix, a New York-based provider of derivative-trading software, through an entity called SAC Ventures. That suggests Cohen may initially stay closer to home on the East Coast rather than venturing out to Silicon Valley. But much depends on whom Cohen hires.